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> I believe that Bitcoin should reduce its block time, in order to trigger the reward halvings more quickly. Regardless of whether this is a good idea or not,
by anonporridge 5y ago
> I believe that Bitcoin should reduce its block time, in order to trigger the reward halvings more quickly.
Regardless of whether this is a good idea or not, it's not going to happen. This would be a hard fork in the network. Bitcoin already went through a massive civil war over the block size, which is a much less contentious issue than the supply issuance rate. It took years just to get the Segwit softfork out the door and years more to be widely used.
What you're suggesting would start a civil war that would rage for years, if not decades, and by the time it was finally resolved, the network would have already gone through a halving or two and naturally reduced the miner reward.
- danuker 5y ago> This would be a hard fork in the network. > What you're suggesting would start a civil war that would rage for years, if not decades Yes, absolutely. I do believe even governments might react more quickly here, by taxing negative externalities, than this happening. But I wish it did, so people would stop worrying about the power used.